ZAR
$USDZARFX:USDZAR
Approaching top of the channel started sometime in 2016.
Lets see what happens here.
Shoprite Momentum Strategy LongJSE:SHP is showing all of the signs for a long position on our trend following momentum strategy.
It would have been better to catch this a bit earlier, but it still has a bit of room to move until it hits the previous resistance.
USDZAR Bearish wedge inside of bearish wedgeLooks like a potential very nice setup here. With the big wedge on the left and the low time frame one on the right. So i am going to follow this one closely, to see if we find some resistance at the high while staying below the red zone. Because this one has long term potential, i am going to build up a pos here. So starting small and building it up on the way down after real confirmation.
Past 2 trades on this pair played out perfect, following basic TA better than others. So with some patience this one could work out greatly as well.
Previous analysis:
Dark Cloud Cover on RDFJSE:RDF has formed a dak cloud cover which is a top reversal signal, so we can anticipate a downward move. Bear in mind that there is also a tempting gap to fill above the current price, so if it goes up, I will enter long at the fractal from 3 June.
Update on USDZAR - now looking very badSo GDP numbers caught a lot of people off guard and the Raant is now tanking.
On the daily chart it now really looks like it can go pretty far up.. we could see the OANDA:USDZAR up at R15.80 to the USD pretty soon
Double top on USDZAR gave a nice little short todayFX:USDZAR traded lower after forming a double top on the 4 hour chart.
Caught a good part of the trade.
The full move of the double top could go all the way down to R14.30 to the dollar.
RMH Trend Following Long & Descending Resistance BreakoutJSE:RMH broke through a descending resistance a couple of days ago and is also has triggered all of the criteria for a long on the trend following momentum strategy.
We can anticipate a bit more of an upward move before reaching the resistance level.
AMS - Momentum Strategy LongAll of the criteria have been met for a long on JSE:AMS on our Momentum Strategy.
The EMA's have crossed, The Stochastic has crossed up along with the MACD.
Anglo American ShortJSE:AMS has broken out of a descending triangle pattern as well as breaching through a downward fractal.
I have entered a short position with a target around the 55500 level.
EURZAR: Short term bullish signal. Long term pending.The pair is on a 1D Ascending Triangle (RSI = 54.426, STOCH = 51.729, Highs/Lows = 0.0000) which on the short term is giving buy signal towards 16.800. Also, a stronger longer term buy signal is coming close to being materialized when the Golden Cross takes place (MA50 over MA200). The last 2 times that happened, the pair rallied more than +15%.
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USDZAR Potential Bullish ReversalTrade Background:
Not much to say here due to the nature of the trade being a short one and relying solely on technical analysis.
Trade Idea:
Positioning: Buy
Time frame: 1H
Length of Trade: 1 day to 2 days
Entry: Between 14.5000 to 14.5400
Stop: 14.5000
Exit: 14.7600
Upward Momentum on CFRThe exponential moving averages have crossed upwards, the stochastic has made an upward turn and MACD is also on the up.
These are all signs to go long as the momentum is moving upwards.
ANG LongJSE:ANG has broken through a descending resistance line and could continue upwards. I will wait a bit to see if the direction is confirmed before entering into a long position.
AGL possible upward moveJSE:AGL has broken through a descending resistance line and is looking good for a long position.
For the more cautious trader, I would wait for it to close above the resistance level and the fractal before entering.
WHL Resistance Breakout at SupportJSE:WHL has broken through a descending resistance and confirmed the breakout with the next candle. This breakout also happened at a support level.
We can expect an upward move due to this breakout.
GRT Piercing LineJSE:GRT is showing a piercing line pattern which is a bottom reversal pattern.
Definition of Piercing Line: After a preceding downtrend, the green candle opens below the previous days close and closes above 50% of the previous red body. The candles MUST be different colours.
Bullish Engulfing & Descending Resistance Breakout on SBKJSE:SBK has broken through the descending resistance and formed a bullish engulfing candle pattern yesterday. Because of the strong momentum, I decided to enter a long position at opening this morning.
Strong Bullish Engulfing Signal on NEDJSE:NED has formed a strong bullish engulfing candle which shows great upward momentum.
CFR Short off ResistanceJSE:CFR is bouncing off resistance and has formed a bearish harami which is a top reversal signal. We can expect a downward move.
BIDVEST Descending Resistance Breakout & ConfirmationJSE:BVT has broken through the descending resistance and has confirmed the breakout.
We can expect a move towards the resistance level around the 21000 level.
For the cautious trader, you can wait for it to break through the fractal or for the more aggressive trader, you could enter immediately.
ABSA ShortJSE:ABG has broken out of the symmetrical triangle pattern that had formed.
Today it seems to be retracing a bit and you might find that it will bounce off the resistance before continuing downwards.
Depending on your risk appetite, you can enter a short right away or wait for a retracement and bounce before entering.
Strong Downward Momentum on MNPJSE:MNP is trading in a downward channel and a pattern has emerged that every time it hits the top of the channel, it plummets towards the bottom of the channel. It has recently hit the top of the channel and is looking positive for a downward move, but just to be safe, we will wait until it breaks through the fractal a little below the current price.
